Los Angeles daily herald., 1887-09-04
DAILY HERALD.
REAL ESTATE.
Record of Sales During
the Past Week.
THE PROPOSED BIG HOTEL
Advance of Property in Its
Neighborhood Fully 100
Per Cent.


Per Cent.
The business in realty still continues
to be very large, and gives great prom
ise Of growing to such figure this fall
and winter as will astonish the world.
There is no doubt about the reality OF
these sales for every one of them are
recorded, and the validity thereof can
be examined into with little trouble.
The footings at the present time are
far too small, for some of the property
transferred has no value other than
81 attached. What the object OF this
concealment is no one can know, un-
less it be that purchasers are unwill-
ing to allow others to know what they
pay, for fear it may affect the selling
price. The activity seems to be con-
fined to no particular spot, but has
covered every part of the city and
county alike. While there may be a
trifie more demand for property in one
locality to-day than there is an an
other, tomorrow the location OF the
demand is likely to be changed
By this means every part is brought
into light by turns. Yesterday prop
erty in the neighborhood of the loca-
tions chosen for the new $500 900 ho-
tells was in extraordinary demand, but
the holders had forestalled the buyers
and advanced prices in some instances
fully fully 100 per cent. One party
who held lot at $4,000 on Friday
morning, advanced it to $50 900, and
refused to accept to former asking
price. This rise was not unexpected,
for the citizens had fully made up
their minds that property surrounding
the site, wherever chosen, would ad-
vance fully 100 per cent. The meet
ing on Friday resulted in giving the
800. 900 subscribed to
THE ST. VINCENT HOTEL
Company, and in describing the prop
erty, Mr.. Jones said:
The south half of block Is fronts
800 feet on Fort street, $50 feet on Sew
enth and 300 feet on Hill. The grounds
therefore have a street frontage of $50
feet, with a probable addition of $50
feet on a street which will probably be
opened from from Fort to Hill, across
the middle OF the block. The area of
this lot is about SO, 900 square feet, or
more than two and a quarter acres. It
lies upon two S0-foot streets, Hill and
Fort. The latter is already being wild
ened to 80 feet. Seventh street is now
60 feet wide, but the property-owners
will soon widen it to 80 feet. The
grounds are located at point reached
by six lines of street railway, viz, the
Central-street railway (soon to be
double-tracked), Seventh street cable
railway double track, which will be
done sooner than the hotel is; the new
storage battery electric road, just in
corporated and franchised; the Los
Angeles Developement Company's
eable-road on Hill street, and the East
and West Los Angeles Railway line on
Fort street. 1t has within one short
block, the City Railway line on Olive
and Fifth streets; the Spring street
extension of the same, which is to be
built to Ninth street; and the Rowan
line on FIFTH street. 1t is also within
TWO DlOCkS VI tilc NIdlIl ctICC0 dul IhSll-
cultural Park line. There is now an ap-
plication for still another franchise.
Three of the above lines are now in
full operation, and four more certain to
be built.
Another great advantage of the site
is that it adjoins the Sixth street Park,
the principal park in the city. 1t also
adioins the beautiful grounds of the
military headquarters of this depart
ment, where Gen. Miles is stationed.
Council has ordered fine bandstand
erected in the Sixth street Park, and
band concerts are to be given there,
which will prove great attraction.
The selected site is also within 500
yards of the spot where the new gov
ernment building and postoffice will be
erected at once. 1t is half mile
nearer to this point and to the business
center of the city than any OF the other
sites named and is in about the exact
center of population. The land is
high and dry, the soil is gravelly, the
drainage and sewerage good. The site
is within one and a half blocks of the
Los Angeles Academy of Music (Haz-
ards Pavilion) and is more centrally
located with respect to the principal
churches than is any other site mem
toned, or any hotel now standing.
One of its further recommendation
and very important one-is that it
lies in the heart of the cleanest, neat
est and best improved residence por-
tions of the city. There are no shan
ties, no pig-pens, no ungraded streets,
and no unsightliness of any sort.
From whatever window OF the project
ed mammoth hotel one may look one
will see only lovely homes and highly
improved grounds. The value of this
site is at least 100000.
The st. Vincent's Hotel Company,
which was Incorporated last year, is
composed of the following heavy capi-
talists and prominent citizens: Major
George H. Bonebrake, President of the
Los Angeles National Bank; +. G..
Howes, Cashier of the same; J.. B.
Lankershim, C. J. Fox, Councilman
J. Frankenfield, Milton Lindley, Rev.
III. Sinsabaugh, Hervey Lindley, Rev.
A. M. Hough, VIM. Raymond and
Councilman f. w. Jones.
These. gentlemen hope to build the
hotel of brown-stone or granite, rather
than frame.
LAST WEEKS BUSINESS.
The record of sales during the past
week was as follows: Monday, $780,
s72; Tuesday, 81 ,041 ,565; Wednesday,
1885, ,427; Thursday, $3lS.662; Friday,
$4O5 ,O9O; Saturday, 1861 ,709. Total,
$2,779, 1925. The principal sales were
ms follows:
T. Beaudry to A. T. Rogniat-Block
2, div. A of lot 6, block 38, II. s., block
3, land north of block 3, east OF West
ern ave in div. A of lot 6, block 38, III.
s., 2. .284 acres in lot 6, block 38, HIS,
2.Ol6 acres in div. A of lot 8, block 3S,
III. s., block 5 in division A OF lot 6,
block 38, II. S., lot on Western ave.
$4,000.